Business LoanA business loan is a loan or sum of money lent to an individual or company (the borrower or applicant) for the purpose of starting, operating or growing a business. The money can be used for any number of things, such as, the purchase of items or equipment for the business, stock, shop fit out, software or other business-related expense. By the nature of the loan however, the funds can not be for personal use. Some examples of acceptable purposes for a business loan are: - Purchase an existing business
- Purchase Motor Vehicles, Earthmoving Equipment, Trucks and Trailers
- Computers, POS Terminals
- Coaches / Buses, Planes and Helicopters
- Gaming Machines
- Drilling Rigs, underground equipment, Engineering and Woodworking equipment, Bore Equipment
- Fitout of offices and stores
- Boats – Pleasure / Business
- Scaffolding
The above definition on business loans and list of purposes is very straight forward business lending. However, by no means is that a complete list of business finance. Some (more specific) business loans that are available but far less know are: - Cash Flow Finance
- Debtor Finance / Receivable Finance
- Import / Export Finance
- Inventory Finance
- Bank Bill
- Short Term Finance
- Revolving Line of Credit
- Asset Lending
- Franchise Finance
- Overdraft
- Agricultural Finance
- Trade Finance
As you can see, a lot to choose from and a solution for every situation. If you have questions or needs for your business, call us for an obligation free review. |
